Asda loses £600m amid major turnaround plan June 25, 2025 Asda slumped back into the red after losing almost £600m in 2024 despite its total sales rising by more than £1bn, it has been revealed. The Leeds-headquartered supermarket giant has posted a pre-tax loss of £599m for its latest financial year, having reported a pre-tax profit of £180.3m for 2023. The profit in 2023 came [...]
Halfords to shut garages amid growing cost pressures June 25, 2025 Halfords is set to close some of its garages this year as it struggles with increased labour costs introduced by last year’s Autumn Budget. Shares fell nearly two per cent in early trades. The cycling and motoring specialist said the sites earmarked for disposal are not able to provide the “level of customer experience to [...]
Rob McElhenney-backed Classic Football Shirts scores sales success June 23, 2025 Sales surged at Classic Football Shirts, which is backed by the likes of TV star and Wrexham co-owner Rob McElhenney, during its latest financial year as it looks to expand further overseas. The Greater Manchester-headquartered business has posted a turnover of £31.8m for the 12 months to 30 June, 2024, up from the £24.4m it [...]
Prime: Logan Paul and KSI’s energy drink runs out of juice June 23, 2025 Prime, the energy drink brand backed by Logan Paul and KSI, suffered a dramatic fall in its UK sales in 2024, it has been revealed. New accounts for Prime Hydration’s UK arm show the firm’s turnover was slashed by more than 70 per cent from £112.2m to £32.8m in its latest financial year. New accounts [...]
H&M to shed light on turnaround amid consumer confidence slump June 21, 2025 H&M investors will be hoping the high street fashion chain shows it is on the road to recovery next week despite caution among many shoppers. The retailer is expected to report a slight rise in sales for the latest quarter in an update on Thursday June 26 as it continues with its turnaround strategy. It [...]
Tesco sorry after Lionesses promotion own goal in Welsh stores June 20, 2025 Tesco has been forced to apologise after shoppers in Wales complained about in-store promotion of the Lionesses, their group rivals at the upcoming Women’s Euros. Customers in Cardiff called the large stand, which showcased Lucozade’s support of the England team and offered a chance to meet the Lionesses, “disgraceful” and “deeply offensive”. Defending champions England [...]
CMA won’t look back in anger over dynamic pricing practices June 20, 2025 Dynamic pricing can deliver “good outcomes for consumers”, the UK’s competition watchdog has said, after concluding a probe into the practice sparked by a consumer backlash over soaring prices at Oasis concerts. The strategy, in which the same products are sold to different consumers at different prices based on levels of demand, attracted furore last [...]
Retail and construction lead insolvencies as UK firms in ‘perilous position’ June 20, 2025 Wholesale and retail traders and construction firms accounted for nearly a third of all insolvencies seen in the 12 months to April. Data published by the Insolvency Service has pointed to a further concerning trend in the UK economy as the number of companies insolvencies in May grew eight per cent month-on-month. The number of [...]
Louis Vuitton: Sales and profit slashed amid luxury spending slowdown June 20, 2025 A continued slowdown in luxury retail spending saw sales at the UK arm of Louis Vuitton slashed by almost £90m and profit tumble during 2024, it has been revealed. The fashion powerhouse has reported sales of £488.2m for its latest financial year, down from the £575.2m it achieved in 2023. New accounts filed with Companies [...]
Alarm bells as retail sales suffer largest fall in 18 months June 20, 2025 UK high streets suffered from post-Easter fatigue among shoppers as official data showed retail sales dropped by 2.7 per cent in May. The Office for National Statistics said a fall in sales in May represented the largest month-on-month drop since December 2023. A Bloomberg poll of economists expected retail sales to drop by 0.5 per [...]